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Bad news for Big Lots fans.
The Ohio-based discount retailer plans to shut down stores nationwide, including on Long Island, according to the company’s website.
NBC Connecticut reports that Big Lots is closing around 40 of its 1,400 stores nationwide, including three in Connecticut. On Long Island, the Centereach location at 231 Centereach Mall and the Carle Place location at 260 Voice Road are slated for closure. Both stores currently have sales of up to 20% off.
Long Island’s other stores, located in Holbrook, Bay Shore, West Babylon, Copiague, and Hicksville, are not currently expected to close.
This round of closures comes after the retailer experienced a decline in sales and is facing a loan default, as noted in the company’s quarterly financial report.
“In 2024, the U.S. economy has continued to face macroeconomic challenges, including elevated inflation, which has adversely impacted the buying power of our customers,” the retail chain wrote in the financial disclosure.
Big Lots joins a list of chains that have faced hardships recently, including Red Lobster, Carrabba’s, Stop & Shop, Bob’s Stores Footwear & Apparel, and more.
Entrepreneur Sol Shenk founded the company in 1967, starting as Consolidated International and later rebranding as Odd Lots and Big Lots. Read more here.
Top: Big Lots furniture up for sale. (Credit: Facebook)
